Sensex, Nifty regain footing on macro cheers, Turkish lira rebound

Benchmark indices Sensex and Nifty on Tuesday regained confidence after two sessions of loss on emergence of buying mainly in financial, healthcare and IT stocks as market participants cheered moderate July inflation numbers and some recovery in Turkish lira assuaged jittery investors globally.

The 30-scrip Sensex rose over 207 points to close at 37,852 and the broader NSE Nifty settled above the 11,400-mark.

In contrast to equities, the Indian rupee on Tuesday crashed below the historic 70-level for the first time and plummeted to the day's low of 70.09, tracking developments in global markets.

However, global equity markets seemed regaining confidence as the threat from the Turkish lira crisis ebbed.

The Turkish currency rebounded from its record low in early trade, strengthening against the US dollar after Turkey's central bank intervention.

Also, domestic market sentiment was buoyed by July inflation numbers.

Wholesale inflation eased to 5.09 per cent in July on account of cheaper food articles, from 5.77 per cent in June. Retail inflation also fell to a nine-month low of 4.17 in July.

Among sectoral indices, healthcare stayed in the lead by rising 2.48 per cent, followed by realty index 1.84 per cent, energy 1.26 per cent, bankex 0.96 per cent, finance 0.67 per cent, FMCG 0.57 per cent, auto 0.55 per cent, consumer durables 0.48 per cent, IT 0.43 per cent, oil and gas 0.37 per cent, teck 0.36 per cent and metal 0.23 per cent.

While capital goods fell 0.51 per cent, followed by infrastructure 0.29 per cent, power 0.14 per cent and PSU 0.10 per cent.

The market rally lifted the mid-cap index by 0.89 per cent and small-cap 0.53 per cent.

Asian shares closed mixed today, as some regional markets bounced back one day after declining over jitters related to economic uncertainty in Turkey.

In the Asian region, Japan's Nikkei ended higher 2.28 per cent while Hong Kong's Hang Seng was down 0.66 per and Shanghai Composite Index shed 0.18 per cent.